Lockdown Support - New Measures Announced

The NSW and Federal Governments have announced a series of new measures to support business during extended lockdowns of four weeks or more:

Up to $15,000 through the expanded 2021 COVID-19 business grants program
Up to $10,000 cashflow support per week
Micro business grants
Payroll tax deferrals and a 25% payroll tax waiver
Rent protections and grants Sector support for the arts and accommodation sector

Eligibility
The full eligibility criteria, including how the decline of turnover test will be applied, have not yet been released. You can streamline the application process by ensuring:

Your business and contact details are up to date on the Australian Business Register.
Your personal and business details are up to date and you have a MyServiceNSW account with a business profile.
Register your expression of interest with ServiceNSW Applications open on 19 July 2021.

We will keep you updated as further details are released. In the meantime, please contact your Forsyths Advisor if you have any questions.

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Disclaimer: Any representations, opinions or statements are based on our understanding of the relevant legislation as at the date of issue. Although every effort has been made to verify the accuracy of the information contained in this material, Forsyths, its officers, representatives, employees and agents disclaim all liability (except for any liability which by law cannot be excluded), for any error, inaccuracy in, or omission from the information contained in this material or any loss or damage suffered by any person directly or indirectly through relying on this information.

Warning: This information is of general nature only and is not intended as a personal advice. It does not take in to account your particular investment objectives, financial situation and needs. Before making a financial decision, you should assess whether the advice is appropriate to your individual investment objectives, financial situation and particular needs. We recommend you consult a professional financial adviser who will assist you. Any references to past investment performance are not an indication of future investment returns. You should also obtain a copy of and consider the Product Disclosure Statement (PDS) for any financial product mentioned before making any decision to acquire a financial product.

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Lockdown Support - New Measures Announced

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